Introduction to Design of Contracts and Securities
Financial intermediaries use contracts with their customers and sell securities in financial markets. The design of the contracts they use and the securities they issue is thus of fundamental importance. The first chapter in this section, Chapter 1, by Paolo Fulghieri and Eitan Goldman, considers the design of debt contracts. The second chapter, Chapter 2, by Xudong An, Yongheng Deng, and Anthony B. Sanders, is concerned with the design ...
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